Ethiopian billionaire Mohammed Al Amoudi’s wealth slumps after earning $230 million in July
His net worth fell in the first two weeks of August by $140 million.
Ethiopian Billionaire
Ethiopia’s wealthiest man Mohammed Al-Amoudi gains $230 million in July; net worth nears $6 billion
The increase in his net worth follows a $1-billion wealth loss in the first half of 2022.
Ethiopia’s richest man Mohammed Al-Amoudi loses nearly $1 billion this year
Al-Amoudi has lost his position as Africa’s sixth-richest man to Nigerian billionaire Mike Adenuga.
Ethiopian billionaire Mohammed Al-Amoudi falls from world’s 367th to 406th richest man
His net worth fell after Preem, Sweden’s largest oil refiner, reported a 31-percent drop in revenue.
Ethiopia’s richest man Mohammed Al-Amoudi has now lost over $1.9 billion in one year
The drop in the Ethiopian billionaire’s net worth can be attributed to a fall in the collective valuation of his industrial assets in Sweden, Saudi Arabia, and Ethiopia.
Billionaire businessman Mohammed Al-Amoudi loses over $370 million in 62 days
The mogul controls valuable assets in Sweden, Saudi Arabia and Ethiopia, and is Ethiopia’s richest man.